Posted on 01/29/2015 6:44:57 AM PST by FR_addict
Research Triangle Park, N.C. — A "resource action," or layoffs, are underway at IBM (NYSE: IBM) under the name "Project Chrome," workers are telling the Alliance@IBM Union.
"Bloodbath today," wrote an IBMer in Columbia, Mo. "Me? Yes, RA'd."
“At a time when IBM is aggressively transforming, the company continues to rebalance its workforce to meet the changing requirements of its clients and to lead in new, high value segments of the IT industry, including cloud, analytics, mobile, security, social and cognitive computing. This is not new news," IBM said in a statement. "IBM announced a $600 million workforce rebalancing charge in 4Q, 2014.” ...
(Excerpt) Read more at wraltechwire.com ...
http://finance.yahoo.com/news/data-storage-company-emc-gives-134911715.html
http://wraltechwire.com/ibm-workers-report-job-cuts-are-underway/14399347/
Rebalancing. I had not heard that one. (And a good thing for me.)
I have been “Suplused”...
I got “right sized” once.
Life goes on... Now is the time that the people effected find out who their friends are.
The only thing new here is the acronym
Ah. Yes. Being a former bookkeeper, I understand what this means.
On the balance sheet, hey moved 600 millon dollars from "Payroll Expense" to "ObolaCare Tax".
In other words, more layoffs will be coming, and IBM doesn't like it when someone else decides what is newsworthy.
I have suspected for a year that many companies were being paid off to wait on the big layoffs till after the 2014 elections.
So far I’ve been able to avoid re-balancing, restructuring, and best-shoring and so far the 5 year recovery plan. Be interesting to see how I end up with company splitting into two.
I perfer the term decruited.
If the could do that then they would have paid off the oil companied to slash the gas prices in half back in October.
EMC is taking a charge that is 25% of IBMs (150,000,000).
Wonder how many other companies are laying off this quarter.
http://finance.yahoo.com/news/data-storage-company-emc-gives-134911715.html
EMC Corp , which has been under pressure from activist investor Elliott Management Corp, forecast a lower-than-expected profit for the year and said it would cut jobs.
Elliott, led by Paul Singer, has urged the company to spin off its virtualization software unit VMware and pursue merger opportunities to “maximize long-term value”.
The company reached a standstill agreement with Elliott this month, under which the investor agreed to refrain from agitating the company until September.
EMC company said on Thursday it expected to take a charge of about $130 million-$150 million in the first quarter ending March related to the restructuring charges.
The company did not specify the number of jobs it would cut...
I suspect most were not paid, but coerced with threats from the emperor's regime. Also, a lot of the CEOs are lefty supporters of the emperor, so they were happy to play along.
I read about that. That’s playing pretty dirty. Some of these employees have been around forever and never received bad ratings. All of a sudden they are receiving crummy ratings.
I read that if your review is low they are cutting the severance and calling it performance related. Super dirty of IBM. Now, these ex-employees will be trying to find jobs with bad performance reviews.
Here’s a site for comments:
http://www.endicottalliance.org/jobcutsreports.php
“I suspect most were not paid, but coerced with threats from the emperor’s regime. Also, a lot of the CEOs are lefty supporters of the emperor, so they were happy to play along.”
I think you are right.
I once quit a job working for United Airlines... They refused to let me quit saying I had to come in for my ‘exit interview’. As far as I know, they are still waiting for me..
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